Handelsbanken Fonder AB Sells 500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Handelsbanken Fonder AB cut its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,600 shares of the company’s stock after selling 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Fortune Brands Innovations were worth $2,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Creative Planning raised its position in shares of Fortune Brands Innovations by 3.1% in the third quarter. Creative Planning now owns 23,706 shares of the company’s stock worth $2,122,000 after buying an additional 714 shares in the last quarter. Blue Trust Inc. increased its stake in Fortune Brands Innovations by 35.4% in the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock worth $109,000 after acquiring an additional 318 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Fortune Brands Innovations by 28.0% in the 3rd quarter. Raymond James & Associates now owns 50,216 shares of the company’s stock valued at $4,496,000 after acquiring an additional 10,998 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Fortune Brands Innovations by 179.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,903 shares of the company’s stock valued at $1,513,000 after acquiring an additional 10,865 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Fortune Brands Innovations by 10.0% during the 3rd quarter. Signaturefd LLC now owns 2,092 shares of the company’s stock valued at $187,000 after acquiring an additional 191 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FBIN shares. The Goldman Sachs Group decreased their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays decreased their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Truist Financial increased their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $64.87 on Tuesday. The company has a 50-day simple moving average of $70.09 and a two-hundred day simple moving average of $77.44. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.00 and a beta of 1.50. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is 25.60%.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.